China Stock Market

China shares: fears mounting of another crackdown slump - "We've seen this picture before"

• ps. National Team bids came into the Shanghai Composite yesterday

UBS has raised its forecast for economic growth in China this year to 4.6%, from 4.4%

• Expects China's property market to stabilise in the coming months

China's stock market rout continues - Shanghai Composite hits a four year low

PBOC sets USD/ CNY reference rate for today at 7.1174 (vs. estimate at 7.1976)

• PBOC CNY reference rate setting for the trading session ahead.

PBOC is expected to set the USD/CNY reference rate at 7.1976 – Reuters estimate

• PBOC CNY reference rate setting for the trading session ahead. china s

The China rout could be a tremendous opportunity but it needs a catalyst

• Chinese shares continue to be battered

China's falling population and its economic consequences: a growing concern

• China's declining population in 2023, due to record low birth rates and COVID-19 deaths

Global Times tabloid highlights the strong internal dynamics of China's economy

• Despite a slowdown in the real estate industry, China's economy achieved growth of 5.2% in 2023

China December industrial output +6.8% y/y (exp +6.6%) Retail Sales +7.4% (exp +8.0%)

China Q4 2023 GDP 5.2% y/y

China's house prices fell, again, in December: -0.4% m/m (prior -0.3%)

• China's troubled property sector ... still troubled!

PBOC sets USD/ CNY mid-point today at 7.1168 (vs. estimate at 7.1986)

• PBOC CNY reference rate setting for the trading session ahead.

PBOC is expected to set the USD/CNY reference rate at 7.1986 – Reuters estimate

• The actual rate will be around 600 points lower than this

China's consumers to save more, spend less through to the second half of the year

• In markets, offshore investor net withdrawing

China's Premier Li Qiang has already announced the country's 2023 economic growth number

• Li Qiang spoke overnight, saying 2023 GDOP in China was 5.2%